New Delhi, May 22 (UNI) The Central Board of Direct Taxes (CBDT) has entered into two Unilateral Advance Pricing Agreements (APA) on May 4, 2017 and May 11, 2017 respectively, to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and determining the arm’s length price of international transactions in advance for the maximum of five future years. One of the Agreements also has “Rollback” provision. The two APAs signed pertain to chip design/development of embedded software and Information technology (software development) sectors of the economy. The number of APAs signed in the current financial year now is four. The CBDT expects more APAs to be signed in the near future. The progress of the APA Scheme strengthens the Government’s commitment to foster a non-adversarial tax regime. UNI ADP ADG SHK 1922